Sherry is the same person who once said to me if I was her child she would abort me.
Yeah, she deserves a lot of respect.
Really really inaccurate statement. But of course that doesn't matter to people on this board. I recommended PKT in the mid to high teens. Yes, it's at $9 now, but it has so much more potential than SPPI going forward. And don't act like SPPI has performed any better since then. SPPI was in the teens when i recommended PKT in the teens.
Don't really have an opinion it. I haven't been following it very closely. It's probably overvalued. I see Raj decided to keep the directors who were voted out and decide to go into debt. That is enough for me to stay far away.
Interesting. Back when I posted, she was the one who most frequently attacked and was uncivil. Very unkind person.
Weird that there has been zero follow-up information to come out, and zero other news sources reporting it. Becoming more and more clear it was a plant and not legitimate info.
And wedge, you blasted me for saying high $7s are possible once the rug starts coming out. I said low $8s/high $7s when the rumor isn't confirmed somehow. And we are on that path.
Btw, tomorrow is the Castle Union deadline for PKT to make a public announcement. Looks like new Board members will be nominated. I can't wait to vote for them.
Was at $8.70 when the buyout rumor came out. It's still at $8.70. So investors have gained nothing as a result of that. Hopefully wedge can learn a thing or two from this, in that Wall Street plays games (as I said in a previous post). Based on the most recent SEC filing, it appears this "news" may very well have been a plant.
Live and learn.
From Market Outperform to Market Perform. Weird timing.
There is also a new SEC filings about Cannell Capital intending to move forward with new BOD nominees. The filing was a defense of the current Board by PKT. The language certainly does not suggest they are going to sell the company in the short term,
dealcom is the only entity to report it. streetcom just posted a video from dealcom. No one else had independently confirmed it.
Working on the deal for some time....that is indeed possible but the tone of the dealcom article didn't suggest that. The way they worded things was that the process was just beginning.
They just hired Stifle to shop it. This is not a 1-2 day process. Probably looking at weeks to months for a conclusion. Again, assuming they really did hire Stifel.
There is also no guarantee of any deal happening. Lots of companies have hired investment banks to sell the business only to find no buyers.
I do agree with Sloop that it isn't great that companies aren't coming to them to buy, but PKT has to go to them to try to sell. According to Peter, they are lined up down the block to buy PKT. So, we shall see.
Gets people talking about the company, or looking into it. Bring more awareness to the ridiculous valuation. Might bring in new institutions. Clearly $12 is not the ceiling in the buyout, investors won't agree to that. $15 is the minimum, which is 3x revenue on EV basis. If by chance they can get 2 interested parties, $20 is easily doable. Of course we still need evidence these so called potential buyers are actually interested. Such evidence has never once materialized.
Everyone still needs to be skeptical until more information comes out. Could easily be a plant of information to allow someone a nice OUT. 5% move on such news is very weak.
Usually when legitimate buyout rumors hit, stocks go up more than 5%. I agree with Peter in questioning the legitimacy of this. However, Peter said he though 3x EV was fair...well that is $16 a share, which isn't that far off from a lot of buyout premiums, especially if there are 2 or more interested parties. I find it too convenient that they would bow to pressure this easily and quickly. Between Merriman and Castle Union, we are talking 12% ownership at best? I don't see that little ownership influencing them this much. And I had been in contact with Archon a few months back and my feeling from talking to them is that they would not be on board with this.
For those against a buyout and thinking it bodes bad for the company and how they want $30 on their own accord, please reassess the current situation of this stock. Until recently it was trading at around .50-.80x revenue on an EV basis, in one of the absolute biggest bull markets in history. The stock is in the doghouse now and it has absolutely no chance of recovering on it's own in the short term. For "$30 on it's own" to happen, would takes years to achieve. Take $15 now, or wait years and maybe see $25-$30 again if everything goes right? Take the $15 now and go to greener pastures and companies that don't have tarnished managements, like PKT does. Brear will not be taken seriously as a CEO again unless he delivers about 2 more years of solid performance. Plus maybe the management just doesn't want to have to deal with all that is involved with being management of a CEO company. Brear really shouldn't be running a public company and maybe running this as a subsidiary sounds more intriguing. And we all know Saponas stands to gain quite a bit with $15 a share.
Just have to sit back and wait, but don't be shocked if this falls off a cliff early next week and heads back to low $8 or even high $7s. Wall street loves to play it's games, and this might be one.
Things might get a little interesting soon when PKT does not make the requested public announcement.
I am sure PKT response will be "we are focused on business" and point to the recent announcements.
Regardless, if a new slate of Board Members are up for voting, I will vote yes early and often.
AMRN already had it's run. The run is over. You all had your chance to profit in the teens along with JZ as he hopelessly pumped the buyout. Steam is gone, stock is dead. Unlikely to recover. The stock market is littered with the bones of companies like AMRN. Too many to list.
It won't be stopped at interim, that is another red herring pump.
Assuming Marine only, scripts will never ever rise high enough for AMRN to break even while also paying back the debt. They will never be cash flow positive with Marine. Maybe it would be possible many years from now, but by then AMRN is flat broke.
And if Reduce-it is not stopped, you are talking many years before a potential approval (2019 or 2020?). Again, by then AMRN is flat broke and bankrupt (see first paragraph).
This is just the reality of the situation. The management has decided to risk EVERYTHING on an early stoppage of Reduce-it. It never had to be this way, but that is what JZ and JT and the boyz have given us.
ha..he will close his position? The stock will probably go close to $0 if RI is not stopped at interim. That will seal the deal that this company is completely bankrupt with no way out except to wipe out shareholders. So yes, he, along with every other long, will have their position closed.
It's on the shelf until after REDUCE-IT results. Don't expect a decision anytime this year, and maybe not even next year.
No real possibility of a modify label at this time. Thero has expressed as much as he consistently reiterates "uphill battle", which in other words means no way no how.
Some people think that clearly a compromise is coming cause Thero decided to pay nice and his rhetoric went 180. A little odd that he did that, but the FDA encouraged him to continue REDUCE-IT, so he bowed down to them. He is their slave; he does what THEY want and has decided to not question it.
Brear gets no street cred bro. Market has discounted them close to zero. Prior to, and after, procera's pre-release no takeout premium was afforded. If a takeout premium was being attached this would be at like $12-$13.
Takeout premiums? haha, what are you talking about? This is trading at 0.80x revenue and has been at or below this valuation for a long time. And you are talking about trading at a takeout premium??!!! Please come back to earth peter. I know in your mind they are lined up around the block to buy PKT, but let's get realistic.